Fair points here
I would argue that MASA has a lower yield to QF compared with pure classic awards (out of the same inventory, as you point out, be it X,U or P) because, as you do state, there is a cost to QF to allocate points and SC on those MASA's vs the none for the Classic Award, which thius to me suggests the "cost" of the points/SC's earned is a (small) reduction in yield of the MASA compared to the Classic Award.
For those that used the points to pay for the taxes in a MASA (IIRC that became an option at some point to "pay" the whole thing in points) then the value of the taxes, which QF of course does not keep, ups the yield on the points paid to QF (unless I have my math inside out which is always possible
)
I'm not sure who has suggested points+pay ("p+p") equals the "new" ASA - certainly not me. I was comparing the "pay for flight with points"(and only points) pricing for seats (as opposed to awards) as the comparision as those seats paid for with points would get you the SC and FF points as with the "old" ASA's (these always existed of course, except for the what we call the MASA's suggesting those purchased where award inventory existed and one could thus get the same seat at a lower "price" for the ASA).
I know one AFF poster who would possibly use p+p over a classic award, but I digress
re "There are numerous threads that provide testimony to the lack of business and first awards. If they are prepared to sell a given seat for the price of a classic award then they should be prepared to sell the same seat at a higher price that compensates for the cost of the points and SC." - Some would argue that they do this already with the "new" ASA, but of course that's not at all what you mean. I could certainly see a situation where QF may be smart to offer a "bundled" approach, much like your JQ "Max" bundles - eg:
eg:
ABC-XYZ:
Y classic award 10k points
Y classic award+earn points/SC 15k points
J classic award 20k points
J classic award+earn points/SC 30k points
F classic award 30k points
F classic award+earn points/SC 40k points
(or whatever, obviously these numbers are just randomly picked out by me). It could potentially even be dynamic pricing based on factors such as the product involved (eg: QF J trans tasman on the 737 vs "QF" J on the EK A380 same route).
As you wrote it could be a win/win to price these "bundles" out to see how much we will value it to buy. I wouldn't have an issue with that at all. It would be smart too I think. I think QF just got jack of essentially "giving away" points/SC for the same points price as your classic awards but weren't innovative enough to think "well fine, if they want this, pay a bit extra..." (or possibly they are, but there's a limitation in Amadeus or whatever GDS they are using these days that makes this difficult, I don't know)
re "Those people will most likely go back to the classic awards, thereby decreasing yield on redeemed seats. As a business decision, it seems dubious." - I disagree. Remember the classic awards are offered on flights where QF thinks it will get zero yield from that seat in the first place by offering it up as an award seat (ie: will go unsold according to yield/revenue management projections) thus "selling" it for a classic award price is still all positive yield revenue to QF as far as I can tell. They'd rather get something rather than nothing as it were.
I certainly agree that in the vast majority of cases, p+p is a poor value propisition for most savvy flyers (such as the membership here) but QF is clearly pushing this as an option. I'm thinking mostly to reduce their liability of points.